Hyperion Exchange Contracts FORK to Administer Crowdsale for Ocean Falls Blockchain, FORK Announces Financial Update Upon Masternode Stake Sale
FORK announces that it is now under contract to Hyperion to administer an equity offering for Ocean Falls Blockchain, a Bitcoin mining operator based out of Ocean Falls, British Columbia. Ocean Falls Blockchain has strategically leveraged an inexpensive supply of electricity, to conduct its mining activities at a low cost, and with minimal environmental impact. The equity offering will be made on the Hyperion Exchange in the form of a regulated security token. FORK also announces that it has sold its masternode stakes in the Dash and Loki blockchain networks at a profit. Despite FORK's decision to sell these stakes, it continues to operate its masternode pooling platform for clients as a key part of its operations.
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2019) - METAVERSE CAPITAL CORP. (CSE: FORK) (OTC: GBCHF) ("FORK" or the "Company") is pleased to announce that pending regulatory approval, it has been contracted by Hyperion Crypto Exchange Inc. ("Hyperion") to administer an equity offering for Ocean Falls Blockchain Corp. ("Ocean Falls") on the Hyperion Exchange, a SEC-registered alternative trading system (ATS) that acts as a blockchain-based trading platform for non-bearer tokenized securities, also known as "security tokens". Ocean Falls is a cryptocurrency mining operator based out of Ocean Falls, British Columbia, with a focus on mining Bitcoin (BTC) cryptocurrency. Ocean Falls leverages an inexpensive supply of electricity, and is engaged in the development of advanced mining technologies including heat capture and transfer to maximize efficiency and minimize environmental impact. Led by an experienced team of cryptocurrency miners, Ocean Falls' operations are slated to expand both in Ocean Falls and at other locations along the central coast of British Columbia upon appropriate capitalization.
Under its agreement with Hyperion, FORK will perform tasks related to the equity offering of Ocean Falls, including compliance checks for its offering as a security token, preparation of media materials, marketing and promotion of the equity offering, as well as interacting with equity offering participants to address questions and concerns.
The performance of Bitcoin has seen considerable improvement in the course of 2019, with the asset seeing significant year-to-date appreciation, outlined below. With this growth, as well as recent technology developments with respect to the use of cryptocurrencies (as detailed in FORK's May 21, 2019 release announcing its relationship with Spend Group), Ocean Falls is well-positioned to generate shareholder value from its cryptocurrency mining activities.
Bitcoin (January 1, 2019 / May 29, 2019) (Change in %)
- Price (USD $3,800 / USD $8,600) (+126.3%)
- 24 Hour Volume (USD $4.3 billion / USD $23.5 billion) (+446.5%)
- Market Capitalization (USD $65 billion / USD $153 billion) (+135.4%)
FORK is also pleased to announce it has sold its stake of Dash (DASH) and Loki (LOKI) masternodes as part of its masternode pooling platform, and this sale was made at a profit. Despite FORK's decision to sell its stake in these masternodes, the Company's masternode pooling platform remains active for clients, and is a key part of FORK's operations.
As of this writing, FORK continues to be one of the largest stakeholders on each of the blockchain networks listed below, in either or both of direct holdings of a given network's crypto asset, or equity in a given network's operations (e.g. staking for witnesses or masternodes).
- Ammbr (Decentralized Internet service provider - http://ammbr.com)
- KodakONE (Image rights management platform - http://kodakone.com)
- MeVu (Peer-to-peer sports wagering - http://mevu.bet)
- Nuvo (Censorship-immune social media and communications - http://nuvo.cash)
Furthermore, FORK will be receiving security token stakes in the offerings of Spend Group, as well as Ocean Falls, upon meeting the conditions outlined in the respective agreements of each relationship.
FORK President and CEO Shidan Gouran said, "Traditional stock markets have become less and less appealing for equity offerings, between the fixed costs of listing, and the ongoing costs and hassle related to compliance. As a security token marketplace, the Hyperion Exchange overcomes much of this, giving companies and investors alike access to a more robust and dynamic range of securities without the drawbacks of traditional exchanges. We are thrilled to have Hyperion's vote of confidence to administer this equity sale for its client Ocean Falls, and we look forward to generating a positive outcome from this equity offering which will have multi-faceted benefits for the blockchain and crypto spaces."
Hyperion CEO Michael Zavet commented, "We are most pleased that Ocean Falls has made the decision to list on the Hyperion Exchange, as this will not only be a great advance for security tokens, but also for the crypto space at large. A major criticism of cryptocurrencies such as Bitcoin is the amount of electricity that is consumed by mining activities. Through a strategic approach to maximizing efficiency and diverting heat output, Ocean Falls has found a way to mine Bitcoin in a manner that is friendly to the environment. We view Ocean Falls as a company that is run with good business sense and conscious ethical values, and we look forward to a productive security token listing for them under FORK's administration."
Ocean Falls Founder Kevin Day added, "With the crypto markets performing as well as they have been in the past month, we are very excited to be getting listed on a public exchange. The boom for cryptocurrencies may have taken place between late 2017 and early 2018, but the markets have matured quite a bit since then, between more seamless solutions for using crypto at retail, and advances in the participation of institutional investors. Our computing facilities can reliably mine Bitcoin at a supreme level of efficiency that many competing mining facility operators cannot attain. We are very much looking forward to working with FORK and Hyperion in conducting our equity offering."
More information about Ocean Falls may be found at http://oceanfallsblockchain.com.
More information about Hyperion may be found at http://hyperiontechnologies.com.
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Metaverse Capital Corp. Investor Relations
About Metaverse Capital Corp.
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Metaverse Capital Corp. ("FORK") places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must ordinarily undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "FORK". Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company's website at: www.metaverse.capital
Cautionary Note Regarding Forward-Looking Information
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect","may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed onthe forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
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